Philanthropic structuring: The Asian context

Asian philanthropy has tremendous potential for growth. Even as the population of ultra-rich individuals in Asia continues to expand, studies indicate that Asian philanthropists have the capacity to give a lot more. The key to tapping into the massive potential for Asian giving and catalysing sustai...

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Main Authors: TANG, Hang Wu, YIP, Man, OOI, Vincent
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2020
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Online Access:https://ink.library.smu.edu.sg/sol_research/3184
https://ink.library.smu.edu.sg/context/sol_research/article/5142/viewcontent/Trends_in_Philanthropy_Structuring__The_Asian_Context.pdf
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spelling sg-smu-ink.sol_research-51422020-09-14T01:55:24Z Philanthropic structuring: The Asian context TANG, Hang Wu YIP, Man OOI, Vincent Asian philanthropy has tremendous potential for growth. Even as the population of ultra-rich individuals in Asia continues to expand, studies indicate that Asian philanthropists have the capacity to give a lot more. The key to tapping into the massive potential for Asian giving and catalysing sustainable and impactful philanthropy in Asia, is to understand the Asian way of giving and embrace strategic institutional and industry innovation.Our paper proposes three strategic directions to expand access to philanthropy: encouraging giving beyond one’s home and religious causes; encouraging everyone to give regardless of the size of the gift; and encouraging formal giving.Strong support from governments and industry is crucial to helping Asian philanthropy reach its potential. Various technological and legal developments have been proven to successfully catalyse and support giving, while online charity platforms and crowdfunding have greatly improved the range and impact of charitable campaigns, and legal structures such as donor-advised funds facilitate effective giving while minimising administrative costs. Crucially, such measures lower the barriers to giving and make it more accessible to the average person. The dream is to achieve democratised philanthropy, where everyone—and not just the ultra-rich— is motivated and enabled to give.The question that remains to be answered is that if Asians are more prone to giving and large Asian benefactors have long existed, is there a platform and structure which is able to cater to their needs for cross jurisdictional giving? Further, where can these structures reside and can the digital revolution assist in facilitating this noble intention? 2020-08-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/sol_research/3184 https://ink.library.smu.edu.sg/context/sol_research/article/5142/viewcontent/Trends_in_Philanthropy_Structuring__The_Asian_Context.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection Yong Pung How School Of Law eng Institutional Knowledge at Singapore Management University Philanthropy Charities Law Asian Law Donor-Advised Funds Asian Studies Public Law and Legal Theory
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Philanthropy
Charities Law
Asian Law
Donor-Advised Funds
Asian Studies
Public Law and Legal Theory
spellingShingle Philanthropy
Charities Law
Asian Law
Donor-Advised Funds
Asian Studies
Public Law and Legal Theory
TANG, Hang Wu
YIP, Man
OOI, Vincent
Philanthropic structuring: The Asian context
description Asian philanthropy has tremendous potential for growth. Even as the population of ultra-rich individuals in Asia continues to expand, studies indicate that Asian philanthropists have the capacity to give a lot more. The key to tapping into the massive potential for Asian giving and catalysing sustainable and impactful philanthropy in Asia, is to understand the Asian way of giving and embrace strategic institutional and industry innovation.Our paper proposes three strategic directions to expand access to philanthropy: encouraging giving beyond one’s home and religious causes; encouraging everyone to give regardless of the size of the gift; and encouraging formal giving.Strong support from governments and industry is crucial to helping Asian philanthropy reach its potential. Various technological and legal developments have been proven to successfully catalyse and support giving, while online charity platforms and crowdfunding have greatly improved the range and impact of charitable campaigns, and legal structures such as donor-advised funds facilitate effective giving while minimising administrative costs. Crucially, such measures lower the barriers to giving and make it more accessible to the average person. The dream is to achieve democratised philanthropy, where everyone—and not just the ultra-rich— is motivated and enabled to give.The question that remains to be answered is that if Asians are more prone to giving and large Asian benefactors have long existed, is there a platform and structure which is able to cater to their needs for cross jurisdictional giving? Further, where can these structures reside and can the digital revolution assist in facilitating this noble intention?
format text
author TANG, Hang Wu
YIP, Man
OOI, Vincent
author_facet TANG, Hang Wu
YIP, Man
OOI, Vincent
author_sort TANG, Hang Wu
title Philanthropic structuring: The Asian context
title_short Philanthropic structuring: The Asian context
title_full Philanthropic structuring: The Asian context
title_fullStr Philanthropic structuring: The Asian context
title_full_unstemmed Philanthropic structuring: The Asian context
title_sort philanthropic structuring: the asian context
publisher Institutional Knowledge at Singapore Management University
publishDate 2020
url https://ink.library.smu.edu.sg/sol_research/3184
https://ink.library.smu.edu.sg/context/sol_research/article/5142/viewcontent/Trends_in_Philanthropy_Structuring__The_Asian_Context.pdf
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